Commodity Market Report
Steel short-term outlook August 2022
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
The global steel demand outlook remains gloomy due to high energy prices, weak consumer confidence and supply chain disruptions arising from the Russia-Ukraine war. Chinese demand continues to weaken as the property sector’s downfall overshadows rising automotive and manufacturing output. The recent covid resurgence in China and dampening consumer sentiment places a downside risk to our demand forecast. Threats of recession in several countries, muted steel prices and weakness in the Chinese property sector suggest global demand outlook will remain sluggish for the rest of the year.
Table of contents
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Demand
- Steel demand in July continued to weaken
- Demand outlook appears gloomy
- Supply
- Trade & Logistics
- Prices
- Demand
- Supply
- Trade
- Prices
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Demand
- Macro uncertainty continues to undermine demand
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Supply
- Rising energy prices continue to squeeze margins for steel producers
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Trade & Logistics
- Russia/Ukraine’s absence leads to diversified imports
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Prices
- European steel market fundamentals have been too weak recently to support a price rise
- 11 more item(s)...
Tables and charts
This report includes the following images and tables:
- Utilisation levels (%)
- Steel inventories (Mt)
- Steel Prices (RMB/t)
- Steel margins (RMB/t)
- Auto leading indicators
- Non-residential spending by category*
- Upcoming scheduled maintenances and risked production
- Production and trade (Mt)
- US and China HRC prices and premia
- Russia new car sales
- Russia steel exports in 2021
- Ukraine and Russia crude steel production
- 16 more item(s)...
What's included
This report contains:
